I don't believe in starvation mode, but this sums it up better than I can
http://www.leangains.com/2010/10/top...-debunked.html
I find that the bigger deficit I have the more I lose - whether its if I eat more and therefore have the energy to work out more or I eat less (usually the latter results in greater loss).
Basically, in the starvation mode experiment, yes the metabolism lowered after a while for grown men who ate 1500 cals a day but it never caught up the rate where they ever stopped losing weight - in fact even when they ate at maintenance for awhile afterwards they were still losing a little. They would lose in big wooshes - possibly because the deficit was so big that it caused their bodies to retain water - which might be why cheat days can result in a big woosh in weight - not real fat loss, just your body finally showing how much water its been holding.
At one point, I followed Lyle Mcdonald's rapid fat loss handbook - I ate a little more - like 900 cals a day and lost weight steadily and quickly.